Serving The High Net Worth Client

Cultivating high net worth and affluent clients is more than a marketing program – it’s an organizational commitment to provide the integrated service delivery this unique client requires. Hosfeld & Associates has worked with banks, advisory firms, consulting organizations, money managers, investment bankers and real estate developers to develop organizational strategies to serve affluent and high net worth customers. We offer a suite of services that guide organizations in development of a strategic focus on high net worth clients. These services begin with an assessment of the organization and its current programs. Next, we guide clients in tailoring a strategy appropriate to their organizational needs and interests. Finally, we support you in implementing and launching your program.

HNW Assessments – The HNW Assessment is an interactive process in which we share best-practices of firms who serve high net worth clients, and benchmark your firm against those best practices. The assessment combines interviews with key employees, employee surveys, business systems and marketing program review, and external research (focus groups, surveys). The assessment provides a scorecard for how well suited the organization is to serve high net worth clients in the following areas:

Product and service breadth

Depth of tax and financial advisory services

Potential for holistic service delivery

Prospecting and marketing protocols

Brand image and market perceptions

Strategy Development – Strategy Development is the next step when a company is new to high net worth clients or if the strategy needs to be clarified. Through collaborative learning and design, we explore different scenarios. Within the high net worth category are many different types of clients whose needs vary – from the “merely affluent” to the “super wealthy” to the “sudden wealth” client. Strategy Development will include evaluation of which high net worth segments your firm is best suited to serve. We examine fit in terms of market potential; company strengths, values, mission and purpose; and logistical feasibility. Strategy Development concludes with discussion of strategic priorities, and evaluation of implications for implementation.

Plans and Implementation – We guide companies as they translate strategy into action plans that can affect many aspects of the organization. While each client situation is unique, a typical implementation process can include product and service integration, prospecting and sales processes, client management protocols, advisor marketing and referral networking.

We also work with third-party consultants and specialists to provide technical support in key areas.